Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations,2015, the Company hereby informs that certain proceedings are pending before the Hon'ble ....
ELITECON · price
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Elitecon International has informed the stock exchanges about legal proceedings pending before the Bombay High Court linked to GST intelligence (DGGI) investigations. The company had filed a writ petition in 2024 seeking consolidation of multiple DGGI probes into the Nashik unit, which was disposed of with an undertaking from Managing Director Vipin Sharma to cooperate with authorities. A review petition filed in 2025 was partly allowed with no adverse findings. Subsequently, the DGGI Agra unit filed a contempt petition alleging non-compliance, which is currently pending. The company states it is contesting the contempt petition and that there is no material financial or operational impact from these proceedings. A separate filing also acknowledges an unintentional delay in disclosing these material events.
The contempt petition is still being adjudicated and could create uncertainty, but management asserts no material financial or operational impact. Shareholders should monitor court proceedings, as an adverse ruling could affect sentiment and potentially lead to penalties.